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Unconventional Yearbook 2018

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Page 34 of 107 | January 2018 | 33 KEY PLAYERS | 2018 UNCONVENTIONAL YEARBOOK gross acres in the Marcellus play, more than 13,600 gross productive wells and 13.5 Tcf of proved nat- ural gas, NGL and crude oil reserves. In 2016 EQT drilled 135 wells, including 117 Marcellus wells, 13 Upper Devonian wells as well as four Utica wells. "With a planned investment of approximately $1.3 billion for well development in 2017, EQT con- tinues to be a formidable player in Appalachian Basin natural gas production," the company said in its 2017 operational forecast. "EQT plans to drill approximately 207 wells in 2017, including 119 Marcellus wells, 81 Upper Devonian wells and seven Utica wells." EQT has secured the drilling rights to about 3.6 million acres of land across the Appalachian Basin and other basins, including property in Pennsylvania, West Virginia, Ohio, Kentucky, Texas and Virginia. In February 2017 EQT, through its subsidiary EQT Production Co., won a bankruptcy auction to acquire 53,400 core net Marcellus acres, includ- ing drilling rights on 44,100 net acres in the Utica and current natural gas production of about 80 MMcfe/d, from Stone Energy Corp. for $527 mil- lion, a news release stated. In November 2017 EQT acquired Rice Energy for $6.7 billion, according to a news release. "This transaction brings together two of the top Mar- cellus and Utica producers to form a natural gas operating position that will be unmatched in the industry," said EQT President and CEO Steve Schlotterbeck in the release. In 2016 EQT acquired additional core Marcellus acreage, consisting of 42,600 net acres and current natural gas production of about 42 MMcfe/d from Trans Energy Inc. and entities affiliated with Republic Energy for an aggregate purchase price of $513 million as well as 17,000 net acres and current natural gas production of about 2 MMcfe/d from a third-party for $170 million. EQT also acquired 62,500 net Marcellus acres and current natural gas production of 50 MMcfe/d for $407 million in 2016 from Statoil USA Onshore Properties Inc. Operations take place at an EQT well pad in Morgan, Greene County, Pa. (Photo courtesy of EQT Corp.)

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